The “BRW Rich 200 List 2014” which names Australia’s richest 200, included Rabbi Joseph Gutnick in their list as number 196, listing his net worth as $285 Million, up from $255 Million last year:
Joseph Gutnick accumulated his wealth mining commodities, including gold and diamonds. This earned him the nickname “Diamond Joe”. He was nearly ruined in the 1987 sharemarket crash, but his rabbi advised him to return to Western Australia to search for gold and diamonds . In 1991, he paid fellow Rich 200 member Mark Creasy a record $115 million for the Bronzewing gold deposit. The Sydney-born Gutnick moved to Singapore in 2013 , attracted by the business benefits of moving to a “financial safe haven” . He is the chairman of Blackham Resources, a mineral exploration company that operates the Matilda Gold Project in WA. In January 2014, Blackham acquired the Wiluna goldmine in central WA from APEX Minerals for $2 million upfront and $2.6 million in deferred cash.